Frozen / Garnished Bank Account
If your bank account has been frozen by Texas Receivership, please review and follow the information below.
Why is my bank account frozen?
A judge ruled that you owe money to a creditor. The judge signed a judgment against you. Judgments in Texas are valid for 10 years and they can be renewed to last longer. After the judgment was taken the judge appointed Texas Receivership to collect money from you to pay for the judgment.
What is the process now?
After we submitted the court order to your bank, they have frozen the money in your account. They may not be allowed to pay any checks or drafts out of your account. Your bank will send to us an accounting of the money in your account at the time of the garnishment. This may take 2-3 weeks for us to receive and is dependant on your bank. Your bank may also charge a fee for having to deal with the bank garnishment
After we receive the accounting
After receiving the accounting and the money from your bank account, we will credit it towards the total owed to the judgment creditor plus our fees and any costs we incurred so far. If we have collected enough money to satisfy the receivership order, we will inform the court and the judgment creditor. The judgment creditor will issue the release of judgment usually in 30 days. If we did not collect enough money to satisfy the receivership order, we will continue to seek repayment through any legal methods available to us.